SIFC Forum is Helping Make Key Decisions to Drive Foreign Investment in Pakistan

“Federal IT Minister Dr. Umar Saif Highlights Transformative Initiatives for Digitalization and Foreign Investment in Pakistan”

In a significant move towards digital transformation and attracting foreign direct investment, Federal Minister for Information Technology and Telecommunications, Dr. Umar Saif, announced crucial decisions through the Special Investment Facilitation Council (SIFC) forum in Information and Communication Technology (ICT).

 These decisions, involving key stakeholders including military and political leadership, are expected to directly benefit the masses and contribute to the rapid development and stability of Pakistan’s economy.

In a video statement, Dr. Umar Saif expressed confidence in the effectiveness of the SIFC, emphasizing that its inclusive composition facilitates swift decision-making for the country’s development and public interests.

 He stressed the importance of avoiding departmental obstacles and urged for quick and effective decisions in the nation’s best interest.

Highlighting specific achievements, Dr. Umar Saif mentioned the resolution of a pending case since 2014 regarding hundreds of MHz of spectrum with Sun TV. 

The matter was addressed within the SIFC forum, meeting all legal requirements, and resulted in the Honorable High Court of Sindh delivering a verdict on Thursday.

 The spectrum, valued at a multi-million dollar market rate, will now be in government custody.

Dr. Umar Saif further outlined the SIFC’s role in streamlining processes, from establishing an Advisory Committee for spectrum auction to facilitating the network of optical fiber cables nationwide and ensuring the effective implementation of the Right of Way Policy.

 All decisions within the SIFC have been approved without unnecessary delays, removing departmental hurdles.

The SIFC forum’s influence extends to the formulation and approval of Pakistan’s first space policy. 

Additionally, negotiations with Starlink are in the final stages, promising the availability of satellite internet to the public soon and improvements to the existing network.

This concerted effort reflects the commitment to fostering innovation, digitalization, and economic growth in Pakistan, positioning the country as a favorable destination for foreign investment and technological advancements.